NetSpend Holdings Inc. at the end of the third quarter nearly matched Green Dot cards’ gross dollar value on active prepaid reloadable debit cards, despite having 1.2 million fewer cards in the market, PaymentsSource data show.
NetSpend as of Sept. 30 had 2.1 million active cards with a $2.4 billion gross dollar value. Green Dot had 3.3 million active cards with a $2.5 billion gross dollar value in the same time period.
Overall, Green Dot has added 1.1 million active cards since Sept. 30, 2009. Netspend added 400,000 cards during the same time period.
Green Dot saw the gross dollar value of its cards increase $1.1 billion in the 12-month period.
NetSpend during the same time period saw the gross dollar value of its cards increase $600 million.
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